Push now, pay later

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<title>Push now, pay later</title>
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<abstract displayLabel="Summary">The article examines the guarantee dilemma in the insurance industry: management teams gain short-term rewards by selling long-term guaranteed products, while the real costs surface decades later and fall on future teams. Historical cases such as Equitable Life, AIG, and The Hartford show how misaligned incentives, behavioral biases, and weak governance lead to underestimated risks. The text also highlights modern versions of the dilemma, including asset-intensive reinsurance and participating products in Asia. It concludes by urging actuaries to take a stronger role-challenging underpriced risks, improving governance structures, and applying rigorous modelling, stress testing, and product lifecycle planning to secure long-term sustainability</abstract>
<note type="statement of responsibility">Jateen Vaghela</note>
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<topic>Productos de seguros</topic>
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<topic>Tarificación</topic>
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<topic>Infraseguro</topic>
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<topic>Cálculo de probabilidades</topic>
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<topic>Ciclo de vida del producto</topic>
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<title>The Actuary : the magazine of the Institute & Faculty of Actuaries</title>
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<publisher>London :  Redactive Publishing, 2019-</publisher>
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<identifier type="local">MAP20200013259</identifier>
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<text>02/02/2026 Number 7 - February 2026 , p. 46 - 49</text>
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